SG Americas Securities LLC Sells 49,185 Shares of Old Republic International Corporation $ORI

Key Points

• SG Americas Securities LLC cut its stake in Old Republic International by 72.1% in the first quarter, selling 49,185 shares and leaving it with 19,055 shares worth about $760,000.
• Old Republic International reported Q1 earnings of $0.68 per share, missing analyst expectations of $0.79, though revenue came in slightly above estimates at $2.40 billion and rose 6.7% year over year.
• The company recently paid a quarterly dividend of $0.315 per share, implying an annualized yield of about 3.0%, while analysts currently hold a moderate buy view with an average target price of $42.00.

SG Americas Securities LLC reduced its stake in Old Republic International Corporation (NYSE:ORI - Free Report) by 72.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 19,055 shares of the insurance provider's stock after selling 49,185 shares during the quarter. SG Americas Securities LLC's holdings in Old Republic International were worth $760,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Old Republic International by 230.6% during the 4th quarter. Bank of New York Mellon Corp now owns 11,852,387 shares of the insurance provider's stock worth $540,943,000 after acquiring an additional 8,266,829 shares during the period. AQR Capital Management LLC increased its holdings in Old Republic International by 30.7% in the 3rd quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider's stock worth $319,155,000 after acquiring an additional 1,774,807 shares during the last quarter. Geode Capital Management LLC raised its stake in Old Republic International by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 4,181,149 shares of the insurance provider's stock valued at $190,870,000 after acquiring an additional 72,857 shares during the period. Thrivent Financial for Lutherans raised its stake in Old Republic International by 0.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 3,949,102 shares of the insurance provider's stock valued at $170,364,000 after acquiring an additional 22,496 shares during the period. Finally, GQG Partners LLC purchased a new stake in Old Republic International during the fourth quarter valued at about $155,960,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Old Republic International news, SVP Carolyn Monroe sold 13,330 shares of Old Republic International stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total transaction of $516,670.80. Following the transaction, the senior vice president directly owned 32,261 shares of the company's stock, valued at approximately $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is owned by insiders.

Old Republic International Trading Up 0.9%

Shares of Old Republic International stock opened at $41.95 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.23 and a quick ratio of 0.23. Old Republic International Corporation has a 1 year low of $35.60 and a 1 year high of $46.76. The firm has a market cap of $10.19 billion, a PE ratio of 11.28 and a beta of 0.58. The company has a 50 day simple moving average of $39.28 and a two-hundred day simple moving average of $40.92.

Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.79 by ($0.11). Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the company earned $0.81 EPS. The firm's revenue was up 6.7% compared to the same quarter last year. Analysts expect that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a $0.315 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.26 annualized dividend and a yield of 3.0%. Old Republic International's dividend payout ratio is currently 33.78%.

Analyst Ratings Changes

ORI has been the subject of a number of research reports. Raymond James Financial set a $44.00 target price on shares of Old Republic International in a research report on Monday, April 27th. Weiss Ratings cut shares of Old Republic International from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, March 27th. Zacks Research raised shares of Old Republic International from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Finally, Piper Sandler lifted their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $42.00.

Old Republic International Company Profile

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.